Fresh USD Checks Reached 88,862 Checks Valued at $1.12B by August 2026

According to the data published by the Association of Lebanese Banks’ (ABL), the total number of cleared checks in the Lebanese financial system decreased remarkably by 37.17% year over year (YoY) to 46,210 checks by August 2026. Similarly, the cumulative value of cleared checks in local currency decreased slightly by 0.47% YoY to LBP 39,454B by August 2026. Also, the cumulative value of cleared checks in foreign currency dropped by 39.05% YoY to $295M by August 2026.

Moreover, the volumes of cleared checks in Lebanese Pounds and foreign currencies witnessed substantial yearly drop of 36.60% and 48.25% respectively to settle at 44,351 and 1,859 checks, by August 2026. Accordingly, the dollarization rate of checks in terms of volume fell from 4.88% in August 2025 to 4.02% in August 2026.

Notably, the number of returned checks dropped significantly by 41.90% YoY to stand at 233 checks by August 2026. Moreover, the value of returned checks in local currency increased YoY by 28.68% to reach LBP 341B, while checks in foreign currency decreased remarkably YoY by 85.64% to record $12.70M by August 2026.

Banque du Liban (BDL) issued Circular 165, which permits depositors to make payments by check starting June 1^st, 2023, as long as their accounts are in either fresh US dollars or Lebanese lira. To support this initiative, BDL has introduced a new clearing system, distinct from the one dedicated to pre-crisis deposits. This circular serves a dual purpose: it encourages customers to open new accounts in both Lebanese pounds and US dollars, while also aiming to decrease the country’s dependence on cash and stimulate economic recovery. As such, by August 2026, the cumulative number of checks issued from fresh accounts reached 121,431, of which 88,862 checks were in USD currency, amounting to $1.12B; and 32,569 checks were in LBP currency amounting to LBP 47,864B. On a monthly basis, the number of cleared fresh checks in August 2026 was 16,993 checks.

Cleared Checks by August 2026 (in 000s)

^{Source: ABL, BLOM Invest}